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Registered number: 05624037
Willow Pharmacy Limited
Unaudited Financial Statements
For The Year Ended 31 January 2026
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05624037
2026 2025
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 802,200 925,800
Tangible Assets 5 212,816 216,623
1,015,016 1,142,423
CURRENT ASSETS
Stocks 6 150,387 140,523
Debtors 7 616,974 425,545
Cash at bank and in hand 702,662 304,381
1,470,023 870,449
Creditors: Amounts Falling Due Within One Year 8 (1,169,957 ) (1,028,828 )
NET CURRENT ASSETS (LIABILITIES) 300,066 (158,379 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,315,082 984,044
Creditors: Amounts Falling Due After More Than One Year 9 (651,930 ) (706,852 )
NET ASSETS 663,152 277,192
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 663,151 277,191
SHAREHOLDERS' FUNDS 663,152 277,192
Page 1
Page 2
For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Aram Jaff
Director
23/10/2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Willow Pharmacy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05624037 . The registered office is 34 Union Street, Ryde, Isle of Wight, PO33 2LE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful life of that asset as follows:
Goodwill - 10% straight line
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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Page 4
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 26 (2025: 28)
26 28
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2025 1,236,000
As at 31 January 2026 1,236,000
Amortisation
As at 1 February 2025 310,200
Provided during the period 123,600
As at 31 January 2026 433,800
Net Book Value
As at 31 January 2026 802,200
As at 1 February 2025 925,800
Page 4
Page 5
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2025 197,584 11,125 52,623 261,332
As at 31 January 2026 197,584 11,125 52,623 261,332
Depreciation
As at 1 February 2025 - 5,327 39,382 44,709
Provided during the period - 1,159 2,648 3,807
As at 31 January 2026 - 6,486 42,030 48,516
Net Book Value
As at 31 January 2026 197,584 4,639 10,593 212,816
As at 1 February 2025 197,584 5,798 13,241 216,623
6. Stocks
2026 2025
£ £
Stock 150,387 140,523
7. Debtors
2026 2025
£ £
Due within one year
Trade debtors 449,944 370,168
Other debtors 1,482 1,032
VAT receivable 165,548 54,345
616,974 425,545
Page 5
Page 6
8. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 584,874 461,611
Bank loans and overdrafts 111,634 111,634
Corporation tax 170,841 101,766
Other taxes and social security 20,783 5,545
Other creditors 281,825 348,272
1,169,957 1,028,828
9. Creditors: Amounts Falling Due After More Than One Year
2026 2025
£ £
Bank loans 651,930 706,852
10. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 1 1
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